The president of Petrobras, Jean Paul Prates (photo), once again highlighted the importance of Petrobras expanding its operations with a focus on energy transition, both investing in renewable energies and reinforcing actions to decarbonize operations. Jean Paul participated, this Wednesday (8/3), in a CERAWeek panel, in Houston (USA), where he dealt with the theme. Prates also met with representatives of the Oil and Gas Climate Initiative (OGCI), a group formed by the largest companies in the oil and gas sector to conduct actions in response to climate change. Earlier in the week, the president had already participated in the OGCI CEOs' meeting, which brought together the leaders of the companies that make up the organization.
In the “Diversifying for Sustainability” panel, in the early morning, Prates highlighted that Petrobras will continue to contribute to Brazil's energy security with the production of oil and gas, whose earnings could finance the energy transition and the expansion of the use of renewable energies. According to him, the decarbonization process already enables a gradual transition in the use of sources.

Prates also highlighted that Petrobras intends to invest in renewable energies such as, for example, offshore wind and hydrogen, in addition to the capture, use and geological storage of CO2 (the so-called Carbon Capture, Utilization and Storage - CCUS).
The president recalled that Petrobras set a record in CCUS in 2022, reaching the mark of 10.6 million tons reinjected (equivalent to 5.8 billion m3 of CO2). For comparison purposes, this portion corresponds to about 25% of the total CO2 injected by global industry last year, according to the Global CCS Institute. With this result, the company consolidates its world leadership in CO2 reinjection.

Meeting with OGCI members
At the end of the morning, Jean Paul Prates participated in a meeting with the CEO of OGCI, Pratima Rangarajan and with the Chairman of the entity, Bob Dudley. At the meeting, the importance of partnerships for achieving the goals of the Paris Agreement and reducing emissions to limit the increase in temperature to 1.5 degrees was highlighted.
“Collective effort is vital to tackling the climate challenge – there is no one-size-fits-all solution. Petrobras, as a member company of the OGCI, also believes that working together with other companies, we have the expertise, scale and reach necessary to make an essential contribution to the energy transition, leading the industry's collective effort in important areas such as energy renewables, biofuels, hydrogen, methane and CCUS," said Prates.
Together, the twelve companies that make up OGCI, including majors such as Equinor, Shell, CNPC, Total and others, are responsible for more than 30% of world oil and gas production and are committed to investing more than 1 billion dollars in ten years on technologies and initiatives to reduce greenhouse gas emissions.